First Mover Asia: Bitcoin Whales Are Increasing, but BTC Sent to Exchanges Continues to Fall. What Does the Trend Mean?

ETH, the second largest crypto in market value, was recently changing hands at $1,853, a 3.1% drop from Wednesday, same time. Most other major cryptos plunged deeply into the red before regaining some ground. Litecoin and popular memecoin SHIB were still off more than 6% and 3%, respectively. SOL, the token of the Solana blockchain soared over 11% at one point and was still up more than 4%. The CoinDesk Market Index, a measure of crypto markets overall performance, was recently down 1.7%.